Hydrocarbons: Sonatrach Discusses Ways to Strengthen Cooperation with U.S. Company Chevron

Algiers – Sonatrach, Algeria’s national hydrocarbons company, held discussions with a delegation from the U.S.-based Chevron Corporation to explore ways to enhance cooperation, particularly in the development of oil and gas resources, according to a statement from the public group.

This took place during a meeting on Tuesday at the headquarters of Sonatrach, where CEO Rachid Hachichi welcomed a delegation from Chevron led by Joe Cook, Vice President for Business Development, in the presence of senior executives from the Algerian group.

“The discussions focused on implementing cooperation agreements between the two companies, particularly in the upstream sector, in accordance with the Memorandum of Understanding signed on June 13, 2024. This MoU aims to develop oil and gas resources in areas of mutual interest within the Ahnet and Berkine basins, as well as assessing the progress of negotiations between the parties in this regard,” the statement read.

On this occasion, Mr. Cook praised the diligent efforts made by teams from both companies to reach an agreement on a mutually beneficial hydrocarbon exploitation contract.

For his part, Mr. Hachichi reaffirmed “Sonatrach’s steadfast support for establishing this partnership and working to overcome obstacles to achieve the shared goals both parties aspire to.”

Chevron, one of the world’s leading oil companies, intends to invest in Algeria due to its significant oil and gas resources.

Article written by Nor Eleslam for dzwatch.dz.